"The introduction of our Hope FleXi bridging loan is all about offering the flexibility to meet the needs of the borrower."
Hope FleXi allows borrowers to service the loan whilst having some of the interest retained and also spread repayments on the serviced part over the entire term of the loan.
The product also allows any combination of the number of months that can be serviced or retained, ensuring the payments are affordable. By shaping the loan through the selection of the number of months to be retained and the number to be serviced, the borrower can achieve the balance between cash flow, affordability, optimal loan amount and LTV.
The borrower can ensure that the monthly payments can reflect the repayments of any future remortgage they have planned to support their exit strategy or to ensure that any rental income from the property can cover the repayment or interest cover ratio.
The level of payments and the amount required on day one is effectively tailored to each individual borrower’s circumstances. For example, loan terms can be from three to 12 months, so if the borrower has selected a 12-month term, they could choose to retain six months’ interest and make six months’ payments spread over the whole 12 months.
Jonathan Sealey, chief executive officer of Hope Capital, commented: “The introduction of our Hope FleXi bridging loan is all about offering the flexibility to meet the needs of the borrower.
“We understand that individual circumstances – the borrower’s own financial position and the nature of the property they are investing in – will vary greatly from case to case.
“At Hope Capital, we make it our job to take all these different situations into account and do our utmost to lend in any scenario where the loan achieves the borrower’s aspirations, is affordable and enables a viable exit strategy.
“As with all our bridging loans, our team provides service excellence at every stage from initial enquiry through to completion.”
